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| Exchange Disseminated Time | Meghraj SP Corporate Finance (Pvt) Ltd ("Manager to the Offer"), on behalf of Alpine Builders Pvt Ltd, M/s Jaz Exports & Engineering Pvt Ltd, Mr. S A Kabeer, Mr. S A Rasheed, Mr. S M Mohsin, Mr. S M Muneer, Mrs. Anisa Banu, Mrs. Athiya Begum, Mrs. Sabiha Talhath, Mr S A Rahaman, Mrs Nishad Dawood & Mrs Rehana Parveen ("Acquirers") has informed in the matter of open offer to the shareholders of Alpine Housing Development Corporation Ltd ("Target Company"), which is in continuation of & should be read in conjunction with the Original Public Announcement ("PA") dated December 13, 2006 and Corrigendum to the Public Announcement dated January 04, 2007 & April 02, 2007, in accordance with Securities and Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 and subsequent amendments thereto. The Shareholders of the Target Company are requested to note the following:
The purchase consideration offered by Acquirers has been revised from Rs 25.36 per share (comprising of offer price Rs 11 per share + Interest of Rs 14.36 per share) to Rs 25.5l per share (comprising of offer price Rs 11 per share + Interest of Rs 14.51 per share) because of change in the interest component. The reasons for change in the interest component are as follows:
1. Change in the date of payment of consideration from March 10, 2007 to May 12, 2007.
2. Based on SEBI's observation letter dated March 22, 2007, the interest is now calculated from 120 days after April 01, 1998 instead of 90 days after April 01, 1998. |
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